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Biggest Money Wasters ($50 Giveaway)

submitted on January 13, 2013 by YanBz in "Buxr Website / Contests"
Money wasters, whether they are little spoilers, unhealthy habits, or just lack of discipline, all make us groan when time comes to balance the budget. We picked some popular ones and compiled a list.

Do you have the most hated money waster of your own? Please take the poll for a chance to win $50 cash prize. Is it not in the list? Please leave a comment and share it with everyone on Buxr.

Registered Buxr members only (registration is free). One entry per member. US participants only. Contest closes January 21, 2013. The winner will be randomly selected and announced in the comments below on January 22.

This Poll is Closed


1. My most hated money wasters are...
  • Buying Single Copy Magazines
  • 10%
  • Buying Brand Name Products
  • 15%
  • Disorganization
  • 38%
  • ATM Fees
  • 15%
  • Impulse Purchases
  • 45%
  • Dining Out
  • 18%
  • Energy Costs
  • 10%
  • Traffic Tickets
  • 10%
  • Convenience Stores
  • 8%
  • Unhealthy Habits
  • 23%
    Total: 40 votes

     

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      Comments
    • 167035
      DebsFreebies
      professor
      2
      10 5 1
      Posted by DebsFreebies on January 14, 2013
      [reply] 6 0
      I think the number one money waster can often be bottled water. There are instances where the tap water isn't palatable but in that case, the cost of a water filter or pitcher is often more cost effective in the long run than single bottles of water.
    • 167040
      lootango
      professor
      11 9 1
      Posted by lootango on January 14, 2013
      [reply] 2 0
      Similar with the bottled water, I hate going to Starbucks to get coffee... but at the same time I love it because it's so good. It can be hard for me to justify spend nearly $3 for a cup of coffee but I still do it occasionally.
    • 167042
      siggy38
      deity
      2 11 9
      12 9 2
      Posted by siggy38 on January 14, 2013 [reply] 0 0
      This could fall into Dining out...But buying lunch at work instead of packing your own.
    • 167043
      janetjjackson
      learner
      1
      Posted by janetjjackson on January 14, 2013
      [reply] 1 0
      this falls into disorganized but I hate when my hubby buys something at the grocery store when we had one or more stuck in the way back of the fridge or pantry!
    • 167049
      smiling_mama
      learner
      Posted by smiling_mama on January 14, 2013
      [reply] 2 0
      Impulse purchases are the worst! I often take back the item, because I feel guilty as soon as I get home with it.
    • 167050
      roxytang
      professor
      2
      10 7 2
      Posted by roxytang on January 14, 2013
      [reply] 5 1
      I am often guilty of stopping somewhere to get fast food when there are plenty of things for me to make at home. I guess that falls under dining out, unhealthy habits, and laziness. Big Grin
        167106
      • siggy38
        deity
        2 11 9
        12 9 2
        Posted by siggy38 on January 15, 2013 [reply] 0 0
        Sorry roxytang, the negative vote was an accident. Red Face
      • 167141
      • roxytang
        professor
        2
        10 7 2
        Posted by roxytang on January 16, 2013
        [reply] 4 0
        No worries. Just vote up this comment. Wink, wink. Amused
    • 167052
      JackBauer
      admin
      Posted by JackBauer on January 14, 2013
      [reply] 4 0
      Where was voting for Obama or for Democrats? I know I personally lost $70 from my first paycheck of 2013. Seems like a money waster for me. Smile
    • 167059
      bigger915
      master
      4 1
      Posted by bigger915 on January 14, 2013
      [reply] 1 0
      For me, subscriptions to cable/satellite television is a big waste of money. You can get local news and weather channels and even stations like NBC, ABC, FOX, CBS by using a digital tv converter box with an antenna. Mr Green
        167434
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 21, 2013 [reply] 0 0
        I used to think cable was something I could go without. But OMG, the month I cut off service was sooo depressing. Sad


        A lot of shows I watch are educational. And a lot of other shows are like therapy for me. I mean, really, can I get the equivalent in college courses and therapy for only $100 a month? I don't think so. For me, it's actually a money saver. Smile


        However...
        If you don't normally watch a lot or care that much for TV and stick to the major networks, then you're right. It would be a waste of $$$ for you.
    • 167065
      sueskabuxr
      learner
      1
      Posted by sueskabuxr on January 14, 2013
      [reply] 1 0
      Disorganization and procrastination is my downfall. Best to not let a CD renew at a low rate before investigating something better. Going paperless can also backfire if you don't keep on top of things. For example, my paperless credit union account was closed down for inactivity. Sad Out of site, out of mind.
        167436
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 21, 2013
        [reply] 1 0
        Oh yeah, you go paperless because they give you some sort of gift or cash back, and you also think you're helping the environment.

        But then all those e-bills get lost in all the spam & other stuff in your inbox and you miss them. Then come the late fees, etc.

        I think they know that will happen to many customers, so their small "gift" or whatever pays off in the long run.

        I had to get a seperate gmail email address just for e-bills so I don't miss any. I wonder why they don't recommend customers do the same. Question
    • 167067
      CouponNut
      deity
      23 14 8
      12 10 2
      Posted by CouponNut on January 14, 2013
      [reply] 2 0
      My impulse buying takes control over me sometimes, but now I leave the receipt in the bag with the goods and wait to see how much I really need the item, otherwise I return it because I never really needed it to begin with. Helps me save! Mr Green
    • 167072
      psplove
      professor
      3 1 6
      11 9 2
      Posted by psplove on January 14, 2013 [reply] 0 0
      The most hated money waster for me is traffic tickets. One ticket waste me over $270 and still need to go to the traffic school. Cry
    • 167074
      lora1961
      learner
      Posted by lora1961 on January 14, 2013
      [reply] 2 0
      Something I find appalling, especially when I see people who can't afford it, is buying groceries in convenient stores. The prices are sometimes 3X grocery store prices and most of the food isn't nutritious at all. Eeek
        167108
      • BKC
        guest
        Posted by BKC on January 15, 2013
        [reply] 1 0
        I completely agree. It's the same as watching people play those "claw and grab" games in grocery stores and Wal-Mart. It's always the people who can least afford to waste money spending $20 to "win" a cheap toy valued at a few bucks. It makes no sense to me and probably never will.
    • 167097
      deathbynosleep
      teacher
      7 1 1
      Posted by deathbynosleep on January 15, 2013
      [reply] 1 0
      I'm incredibly organized at work...for some reason I can't do the same at home. I've never forgot to pay any bills, but my wife and I always forget to use coupons that we have scattered in the kitchen or computer room or her purse.

      I'm also guilty of the occasional impulse buy(did this yesterday at the furniture store). I usually try to find it cheaper online as soon as I get home.
        167437
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 21, 2013
        [reply] 1 0
        A long time ago I used to do the same w/the disorganization of coupons.

        Then I bought one of those coupon organizers on ebay.

        I clip coupons from our papers every Sunday for just about every product I use (or intend to use) & organize it, then purge the expired ones.

        I keep it in my huge purse. That way, I have coupons for everything everywhere I go just in case I need some unexpectedly.

        (Yes, I used to be an Extreme Couponer.) LOL Smile
    • 167100
      Version
      professor
      9 7 2
      Posted by Version on January 15, 2013
      [reply] 1 0
      For me it's impulse purchases. Once I see something on clearance and the price is good am buying it, even if I don't really need it.
        167438
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 21, 2013 [reply] 0 0
        I do that too. But that's not really bad if it's clothing or shoes, etc. Then you can give them to charity. Smile
    • 167102
      laaya
      professor
      1 1 2
      11 8 2
      Posted by laaya on January 15, 2013
      [reply] 1 0
      Traffic tickets, ATM Fees and Unhealthy Habits are my primary concerns all the time. My neighbor caught thrice in couple of months and wasted more than $780. Reason, speeding Evil while travelling to office which is 7 miles away from home.

      I personally faced twice $50 becz of late fee which shouldn't be Neutral
    • 167103
      bkchavez
      apprentice
      11 2 1
      Posted by bkchavez on January 15, 2013
      [reply] 1 0
      I think cell phones are a big money waster. I use pre-paid and can spend as little as $10 month. Aside from professional responsibilities, you don't need to be on the phone, online or connected at all times. I'm just appalled at the amount of people I see chatting on a cell phone all the time and talking about absolutely nothing important. It's not only rude, but a waste of money. (You're going to be home shortly anyway, so why can't the conversation about what you ate for lunch wait?)
        167112
      • JackBauer
        admin
        Posted by JackBauer on January 15, 2013
        [reply] 2 0
        Don't judge me. You don't know me...lol
    • 167148
      samm_is
      novice
      12 8
      Posted by samm_is on January 16, 2013
      [reply] 1 0
      Not inventorying grocery store items like cleaners, rinse agents etc. before shopping trips. Between the kitchen pantry and a storage closet, I recently found no less than 4 bottles of Jet-Dry in three different sizes (only one of which was "known" and in use)!
    • 167149
      samm_is
      novice
      12 8
      Posted by samm_is on January 16, 2013
      [reply] 1 0
      My personal worst money wasters are "considered impulse purchases" - since I do a lot of my shopping online, I now keep items in my cart for several hours, even a day, before actually buying it, or not.
        167439
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 21, 2013 [reply] 0 0
        I usually do that too, especially with clothing. I can't count how many times I've purchased the same or very similar-looking items. I have to check my closet (which looks like a boutique, lol) before purchasing any clothing or shoes online.
    • 167244
      fleurette
      learner
      2
      Posted by fleurette on January 17, 2013
      [reply] 1 0
      My biggest money drain is bottled beverages period. Soda, energy drinks, fancy water, even wine. It's all so unnecessary when clean tap water is available. Many years ago I was in Berlin during a heat wave and spent a fortune on bottled water because none of the locals could tell me if the tap water was safe drink. They ONLY drank bottled water!
        167563
      • Goofy_Girl
        professor
        12 8 1
        Posted by Goofy_Girl on January 23, 2013 [reply] 0 0
        Yes, but energy drinks can be justified if they make you more productive. Smile


        Especially if you're the boss and/or run your own business from home.
        If energy drinks help you perform better and produce more work, then that is more $$$ in your pocket. Big Grin


        There...now I just justified my own energy drink habit, LOL! LOL


        No, seriously, I don't buy those diet Red Bulls anymore. OMY, I realized I was spending quite a bit per month. I found a replacement: "Loop" energy drink at Kmart. It is EXACTLY like Red Bull. Even my friend (who hates the knock-offs) loves it.

        The only difference? The price: Comparing the 16 oz. cans, Red Bull is about $4+ and Kmart's Loop is .99 cents, sometimes less on sale.


        Smile
    • 167330
      onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on January 19, 2013 [reply] 0 0
      My number 1 money wasters are the App Store Purchases which often are bought on impluse rather than forethought. You just can't stop yourself from buying it since it seems just a trivial amount which at the end of the month reflects in your credit card bill! Plus at times I spend on video games which could have waited till they drop in price.
    • 167441
      Goofy_Girl
      professor
      12 8 1
      Posted by Goofy_Girl on January 21, 2013 [reply] 0 0
      You know what I think is one of the newest money drainers? And I think the annual cost may even replace the bottled water money drainer.

      THOSE STUPID DISPOSABLE COFFEE PODS!!!

      Really? Do you need to spend (an infomercial estimated) $450+ a year on those disposable coffee pods?

      If you're stuck with one of those types of coffeemakers, they have these containers that you can REFILL with ANY coffee and place in those coffeemakers.

      I forgot what they're called...they were on an infomercial & a direct mailing I received.

      Seriously, when I first saw one of those coffeemakers, I was horrified at how much waste it would produce each year.
        167450
      • YanBz
        admin
        Posted by YanBz on January 21, 2013
        [reply] 1 0
        Yeah, we have one and I just keep thinking about it whenever I make a cup of coffee. The convenience is however hard to beat.
    • 167451
      YanBz
      admin
      Posted by YanBz on January 21, 2013
      [reply] 1 0
      I am having trouble choosing the money waster for myself. First I thought it would be groceries, we spend a lot each month because we usually buy fresh quality produce, sometimes organic. However this if anything is smart choice because by paying a bit more now your are saving on your health later.

      Next I thought of eating out or some entertainment choices we make, like going to a Korean sauna or an occasional restaurant. This however doesn't happen very often. I eat home lunch at work every day and whatever eating out that happens is not very frequent and serves as family binding experience.

      Another big expense for us is kids school and activities, it is probably the single biggest expense category after home mortgage. We could reduce these, however looking back at my own childhood I see myself often dreaming of some of the things my kids are doing now, so it is hard so say if this is a money waster or rather a conscious decision.

      So I am really at loss here. The only true money waster I am left with are library overdue fees which are not a lot at all, maybe $2-3 a month.
    • 167500
      YanBz
      admin
      Posted by YanBz on January 22, 2013
      [reply] 4 0
      I just ran the random number generator at random.org and the winner is bemicmom who was #5 out of the 40 members who took the poll. Congratulations and thanks to everyone who participated!
    • 167504
      siggy38
      deity
      2 11 9
      12 9 2
      Posted by siggy38 on January 22, 2013
      [reply] 2 0
      Congratulations Bemicmom!
    • 167506
      laaya
      professor
      1 1 2
      11 8 2
      Posted by laaya on January 22, 2013
      [reply] 2 0
      Congratulations Bemicmom Mr Green
    • 167507
      bemicmom
      professor
      6 3 4
      10 9 2
      Posted by bemicmom on January 22, 2013
      [reply] 4 0
      Oh wow....thanks Big Grin
      I can't believe I won Eeek Many thanks Smile
        167554
      • CouponNut
        deity
        23 14 8
        12 10 2
        Posted by CouponNut on January 23, 2013
        [reply] 2 0
        Congrats bemicmom! Smile
    • 167534
      psplove
      professor
      3 1 6
      11 9 2
      Posted by psplove on January 22, 2013
      [reply] 2 0
      Super.. Congratulations Bemicmom Confused
    • 167537
      supergirl
      professor
      1
      8 8 2
      Posted by supergirl on January 22, 2013
      [reply] 2 0
      Congrats bemicmom
    • 167544
      Version
      professor
      9 7 2
      Posted by Version on January 22, 2013
      [reply] 2 0
      Congratulations Bemicmom!
    • 167548
      lootango
      professor
      11 9 1
      Posted by lootango on January 22, 2013
      [reply] 2 0
      Big congrats to Bemicmom! Woo hoo!
    • 167562
      mommy25
      professor
      1 4
      8 7 2
      Posted by mommy25 on January 23, 2013
      [reply] 2 0
      Congratulations Bemicmom! Big Grin
    • 167564
      Goofy_Girl
      professor
      12 8 1
      Posted by Goofy_Girl on January 23, 2013
      [reply] 2 0
      ***Congratulations***
      Enjoy the cash! (Or Amazon Gift Card.) Smile
    • 167647
      gadhasing
      professor
      9 6 2
      Posted by gadhasing on January 24, 2013 [reply] 1 1
      Congratulation.....
    • 167699
      Goofy_Girl
      professor
      12 8 1
      Posted by Goofy_Girl on January 25, 2013 [reply] 0 0
      Oops! Sorry gadhasing, I meant to give you a positive for your comment, but the curser moved over to the right one too many times and accidentally hit the negative button. Red Face


      Somebody give him/her an extra positive to even it out, please...

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